CBDT – extension in due date for non-tax audit cases is fake and there are no such plans to extend this deadline beyond 31st July, 2018

CIRCULAR No.4/2018

F.No.370889/25/2018
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, Dated 21st July, 2018

This Circular is issued in pursuant to 139(1) of the Tax Act, 1961 is to clarify that rumors spreading across in media regarding extension in due date for non-tax audit is fake and no such plans to extend this deadline beyond 31st July, 2018. The department already received over 1 crore returns filed electronically.

As per Section 234F of the Income Tax Act, from 1st April 2018, the penalty for late filing income tax return would be as

(a) five thousand rupees, if the return is furnished on or the 31st day of December of the assessment year;

(b) ten thousand rupees in any other case:

Provided further that if the total income of the person not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees. Therefore, the assessees are hereby asked to file their ITRs before the due date to avoid the penalty.

CBDT’s order regarding linking of PAN with Aadhaar while filing of ITRs
F.No.225/270/2017/lTA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

North-Block, ITA II Division,
New Delhi, dated the 30th of June, 2018

Order under Section 119 of the Income-tax Act, 1961

Vide its orders dated 31.07.17, 31.08.17, 08.12.2017 & 27.03.2018 in file of even number, CBDT had allowed time till 30th June, 2018 to link PAN with Aadhaar while filing the tax-returns. Upon consideration of the matter, the CBDT further extends the time for linking PAN with Aadhaar till 31st March, 2019.

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes

New Delhi, 18th November, 2016.

PRESS RELEASE

Sub: Demonetisation of Old High Denomination Currency & Cash Deposits in Bank Accounts

It was announced by the Government earlier that small deposits made in the banks by artisans, workers, housewives, etc. would not be questioned by the Income Tax Department in view of the fact that present exemption limit for Income Tax is Rs.2.5 lakh. Reports are being received of instances where people are using other persons’ bank accounts to convert their black money into new denomination notes for which reward is also being given to the account holders who agree to allow their accounts to be used. This activity has been reported in case of Jan-Dhan Accounts also.

It is hereby clarified that such tax evasion activities can be made subject to Income Tax and penalty if it is established that the amount deposited in the account was not of the account holder but of somebody else. Also the person who allows his or her account to be misused for this purpose can be prosecuted for abetment under Income Tax Act.

However, genuine persons depositing their own household savings in cash into their bank accounts would not be questioned.

The people are requested not to get lured by black money converters and be a partner in this crime of converting black money into white through this method. Unless all citizens of the country help the Government in curbing black money, this mission of black money will not succeed. Also the people who are against the black money should give information of such illegal activities going on to the Income Tax department so that immediate action can be taken and such illegal transfer of cash can be stopped and seized.

Black money is a crime against humanity. We urge every conscientious citizen to help join the Government in eradicating it.

One of the pillars of the of the taxation proposals included in the Finance Minister’s Budget Speech for 2015-16 was extension of benefits to the middle class. In this process, the Finance Minister announced extension of certain benefits in respect of medical treatment under section 80DDB. This section allows a deduction for expenditure incurred on treatment of specified ailments.

Taking the process forward, Central Board of Direct Taxes (CBDT) has issued a Notification vide S.O. No.2791 (E) on 12th October 2015 amending Rule 11DD. The amended Rule relaxes the condition of obtaining the certificate for claiming expenditure under section 80DDB in respect of specified ailments from a specialist working in a Government hospital. As per amended Rule 11DD, the prescription can be issued by any specialist mentioned in the amended Rule. Henceforth, it will not be mandatory to obtain a certificate from a specialist working in a Government hospital.

The Notification is available on the website of the Income Tax Department www.incometaxindia.gov.in .

who were Required to E-File their Returns of Income by 31st August 2015

The Government has received various representations that tax payers have faced difficulties in E-filing of returns across the country due to slowing down of certain e-services on 31st August 2015.

Considering these representations, the Central Board Direct Taxes (CBDT) has extended the ‘due-date’ for E-filing returns of income from 31st August 2015 to 7th September 2015 in respect of all taxpayers who were required to E-file their returns of income by 31st August 2015.

Earlier, the ‘due-date’ for filing of Income Tax return for Assessment Year 2015-16 was extended till 31st August, 2015 in case of those taxpayers who were required to file their tax return by 31st July, 2015.

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